Portfolio Lending and Mortgage Access Act
This bill amends the Truth in Lending Act to modify provisions related to residential mortgage loans. In general, a creditor that is a depository institution shall not be subject to suit for violating specified ability-to-pay requirements with respect to a residential mortgage loan if: (1) the creditor has consistently held the loan on its balance sheet, and (2) prepayment penalties associated with the loan comply with specified limitations. Similarly, a mortgage originator shall not be subject to suit for such a violation if: (1) the creditor is a depository institution; and (2) the creditor informs the mortgage originator, which informs the consumer, that the creditor intends to hold the loan on its balance sheet for the life of the loan.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2018-03-07 | IntroReferral | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate |
| 2018-03-06 | Floor | Motion to reconsider laid on the table Agreed to without objection. | House floor actions |
| 2018-03-06 | Floor | On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H1389-1390) | House floor actions |
| 2018-03-06 | Floor | DEBATE - The House proceeded with forty minutes of debate on H.R. 2226. | House floor actions |
| 2018-03-06 | Floor | Considered under suspension of the rules. (consideration: CR H1389-1393) | House floor actions |
| 2018-03-06 | Floor | Mr. Barr moved to suspend the rules and pass the bill, as amended. | House floor actions |
| 2018-02-23 | Calendars | Placed on the Union Calendar, Calendar No. 438. | House floor actions |
| 2018-02-23 | Committee | Reported (Amended) by the Committee on Financial Services. H. Rept. 115-578. | House floor actions |
| 2018-01-18 | Committee | Ordered to be Reported (Amended) by the Yeas and Nays: 55 - 0. | House committee actions |
| 2018-01-18 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2018-01-17 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2017-04-28 | IntroReferral | Referred to the House Committee on Financial Services. | House floor actions |
| 2017-04-28 | IntroReferral | Introduced in House | Library of Congress |